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20121027
20121104
Search Results 0 to 3 of about 4 (some duplicates have been removed)
a look here, we're talking about companies like allstate, chub, travelers, state farm-- there are others listed here on the screen. who is in the best shape to deal with all of this? >> well, i would say cumulatively, the industry is very well capitalized. i mean, one of the reasons that they have been able to build up their reserves this year is 2012, compared to 2011, has been comparatively light in terms of natural disasters. 2011 you had the tornado in tuscaloosa andiop len. you had hurricane irene in 2011. this year, you look at june 2012, you had the colorado wildfire. you had hurricane isaac which hit louisiana. what we're looking at with sandy is multiple states across some of the most heavily populated states on the east coast, and that's why this has caught everybody's attention for good reason. >> susie: what about businesses? to what extent are they covered through all of this, or is there a deference being a homeowner-- we have heard companies have closed operations for the next few days. >> well business insurance policy coverage is comparable to a home insurance policy, th
, travelers, allstate, and chubb. auden thinks those firms will be able to shoulder a financial hit if the storm's damage mirrors that of irene. >> with every event companies gather more information on potential losses, so catastrophe losses become much more sophisticated. companies use those to measure aggregation of losses and potential losses from a given event. >> reporter: damage from wind, falling trees, and rain coming through roofs is covered by standard insurance policies. but analysts fear much of the damage from sandy to homes and businesses is likely to come from storm surge flooding which isn't. the insurance information itite estimates roughly 300,000 homes in thhease nort could be vulnerable to this type of event. but the institute is optimistic many homeowners have flood insurance. >> nothing sells flood coverage like a flood and when hurricane irene hit last year there was widespread flooding throughout the northeast and many people did go out and buy flood insurance policies after that. so as long as they kept that policy enforced they'll be protected in the event
include: liberty mutual, travelers, allstate, and chubb. auden thinks those firms will be able to shoulder a financial hit if the storm's damage mirrors that of irene. >> with every event companies gather more information on potential losses, so catastrophe losses become much more sophisticated. companies use those to measure aggregation of losses and potential losses from a given event. >> reporter: damage from wind, falling trees, and rain coming through roofs is covered by standard insurance policies. but analysts fear much of the damage from sandy to homes and businesses is likely to come from storm surge flooding which isn't. the insurance information institute estimates roughly 300,000 homes in the northeast could be vulnerable to this type of event. but the institute is optimistic many homeowners have flood insurance. >> nothing sells flood coverage like a flood and when hurricane irene hit last year there was widespread flooding throughout the northeast and many people did go out and buy flood insurance policies after that. so as long as they kept that policy enforced they'll be pr
Search Results 0 to 3 of about 4 (some duplicates have been removed)